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Automated valet parking

Hyundai Motor to roll out automated remote valet parking cars in 2024

Dec 11, 2020 (Gmt+09:00)

The Hyundai 45 EV Concept previews the IONIQ 5

Maneuvering in and out of tight parking spaces is troublesome for some drivers, men and women alike. Whatever your take on parking, Hyundai Motor Co. is about to make the trickiest part of driving much easier.

Hyundai, South Korea’s largest automaker, on Thursday unveiled a plan to mass produce an automated valet parking car by 2024.

The smart car can drive into and out of parking spaces fully automatically and is returned with a remote-control assist system, according to the automaker. Automated valet parking is a driverless system that finds a free space in the parking lot and parks the car itself by means of connected technology.

That’s part of Hyundai Motor’s updated five-year plan, "Strategy 2025," looking to transform the company into one of the world’s leading providers of future mobility and manufacturers of electric cars and hydrogen fuel cell powered vehicles.

Hyundai Motor President Lee Won-hee at the 2020 CEO Investor Day forum

STRATEGY 2025

Under the plan, announced at its 2020 CEO Investor Day forum on Dec. 10, Hyundai said it will redouble its efforts to develop fully autonomous driving technologies, especially in the areas of sensor fusions and integrated controllers, which will enable driverless parking.

Starting from 2022, the company plans to offer models equipped with Level 3 autonomous driving technology and cooperate with global partners to accelerate the commercialization of Level 4 and 5 vehicles.

The establishment of Motional Inc., a joint venture with Aptiv Inc., is part of the automaker’s efforts for global cooperation.

Hyundai’s comprehensive mid- to long-term strategy includes supplying 8-10% of the world’s electric vehicles by 2025. The company plans to introduce more than 12 battery powered electric cars (BEVs) built on E-GMP, the automotive group’s platform for dedicated EVs.

Hyundai Motor’s E-GMP platform for electric vehicles

Starting from 2030, the company will gradually expand BEV offerings in key markets such as the US, Europe and China, eventually aiming to fully electrify its product lineup in major global markets by 2040.

SOLID-STATE BATTERY CARS

At Thursday’s forum, Hyundai Motor said it will unveil an EV running on a next-generation all-solid-state battery (ASSB) on a pilot basis in 2025, with a view to mass producing such vehicles from 2030.

Solid-state rechargeable batteries are drawing significant attention due to their increased energy, density and safety.

Hyundai is known to be developing solid-state batteries in-house. Samsung said in March it had developed an ASSB technology, and more recently, POSCO Chemical said earlier this month that it is developing such technology.

To achieve its long-term goal, Hyundai Motor President Lee Won-hee said the company will invest 60 trillion won ($55.2 billion), including 23.5 trillion won dedicated to future mobility, over the next five years.

Of the total, the company plans to spend 4.1 trillion won on the hydrogen business, a sevenfold increase from the 600 billion won it announced last year. Investment in electrification will rise by 1 trillion won to 10.8 trillion won.

HTWO, HYUNDAI’S DEDICATED FUEL CELL BRAND

In line with its aim to become a leader in the hydrogen-fueled vehicle market, Hyundai has launched a brand dedicated to its hydrogen fuel cell system. The name “HTWO” stands for the hydrogen molecule, H2, as well as “hydrogen and humanity,” according to Hyundai.

Hyundai Motor Chairman Chung Euisun discusses the company's urban air mobility vision

The company has been stepping up efforts to advance its fuel cell systems that can be used in Urban Air Mobility (UAM), the auto industry, and other segments. Since introducing its ix35 fuel cell EV in 2013, the company has unveiled the NEXO SUV, the XCIENT fuel cell heavy-duty truck and a fuel cell electric bus.

As he took the helm of the automotive group in October, Hyundai Motor Chairman Chung Euisun identified fuel cells, autonomous driving, electrification, robotics and UAM as his top initiatives for the future.

Write to Byung-Uk Do and Sun A Lee at dodo@hankyung.com

In-Soo Nam edited this article.

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